Barrick Gold’s Lumwana
copper mine “’ those lights
are going to be coasting
a lot more soon
 
Lusaka, Zambia — 22 June 2012 – The government of Zambia “’ Africa’s top copper producer “’ is to gradually raise the electricity tariffs it charges mining companies in the country so that by 2105 they reflect the true cost of producing power, according to Zambian energy regulator.

“We would like to see a situation where all the mines pay cost-reflective tariffs and we want to see this migration by 2015,” the regulator’s director for infrastructure and regulation, James Manda, told Reuters at a mining and energy conference here.

The main companies operating in Zambia who would feel the effects of this action include Swiss-based Glencore International, Indian miner Vedanta, Canadian-listed First Quantum Minerals and Barrick Gold Corporation, and Brazilian mining giant Vale.

Source: Reuters Africa. For more information, click here.